Members of the $1.9 billion Coastal Federal Credit Union have now transacted more than a million sessions at the Raleigh, N.C., institution's video banking personal teller machines.
The machines, from uGenius Technology of Sandy, Utah, allow the member to conduct business with a teller at a remote location through a video conferencing connection with the credit union's call center. Virtually any kind of transaction can be handled, the company said, including cash and check deposits, check cashing, transfers and payments.
Coastal launched the system less than two years ago. Chuck Purvis, Coastal's executive vice president, said, "This technology has allowed Coastal to move forward with key strategic goals to serve our marketplace better through new branch deployments and design, and in establishing a centralized teller center."
According to uGenius Technology, more than 100 of the machines have been deployed in the United States, Canada and Australia.
The company said another of its customers, the $700 million Mid-Hudson Valley FCU in Kingston, N.Y., was the first to use the PTMs to provide 24/7 access to live tellers.